The PNC Financial Services Group, Inc $PNC Shares Bought by Czech National Bank

Czech National Bank grew its holdings in The PNC Financial Services Group, Inc (NYSE:PNC) by 3.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 103,407 shares of the financial services provider’s stock after purchasing an additional 3,388 shares during the quarter. Czech National Bank’s holdings in The PNC Financial Services Group were worth $21,584,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Kennebec Savings Bank grew its position in shares of The PNC Financial Services Group by 1.6% in the third quarter. Kennebec Savings Bank now owns 3,424 shares of the financial services provider’s stock valued at $688,000 after purchasing an additional 54 shares in the last quarter. SCS Capital Management LLC increased its holdings in shares of The PNC Financial Services Group by 0.6% in the second quarter. SCS Capital Management LLC now owns 8,527 shares of the financial services provider’s stock valued at $1,590,000 after purchasing an additional 55 shares during the last quarter. Webster Bank N. A. lifted its position in The PNC Financial Services Group by 0.5% during the third quarter. Webster Bank N. A. now owns 10,975 shares of the financial services provider’s stock worth $2,205,000 after buying an additional 55 shares in the last quarter. YANKCOM Partnership lifted its position in The PNC Financial Services Group by 2.3% during the third quarter. YANKCOM Partnership now owns 2,537 shares of the financial services provider’s stock worth $510,000 after buying an additional 57 shares in the last quarter. Finally, Foster & Motley Inc. boosted its stake in The PNC Financial Services Group by 4.2% during the third quarter. Foster & Motley Inc. now owns 1,420 shares of the financial services provider’s stock worth $285,000 after buying an additional 57 shares during the last quarter. 83.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Richard Kevin Bynum sold 7,407 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $230.98, for a total value of $1,710,868.86. Following the completion of the transaction, the executive vice president owned 1,942 shares of the company’s stock, valued at $448,563.16. This trade represents a 79.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO William S. Demchak sold 50,000 shares of the business’s stock in a transaction on Friday, February 20th. The stock was sold at an average price of $230.88, for a total transaction of $11,544,000.00. Following the completion of the transaction, the chief executive officer owned 554,274 shares of the company’s stock, valued at approximately $127,970,781.12. This trade represents a 8.27% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 64,186 shares of company stock valued at $14,840,973 in the last quarter. Corporate insiders own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on PNC shares. TD Cowen upped their target price on The PNC Financial Services Group from $250.00 to $260.00 and gave the company a “buy” rating in a report on Tuesday, January 20th. Keefe, Bruyette & Woods lifted their price target on The PNC Financial Services Group from $228.00 to $247.00 and gave the stock a “market perform” rating in a report on Tuesday, January 20th. Truist Financial boosted their price target on shares of The PNC Financial Services Group from $210.00 to $229.00 and gave the company a “hold” rating in a research report on Thursday, December 18th. Oppenheimer upped their price objective on shares of The PNC Financial Services Group from $268.00 to $284.00 and gave the company an “outperform” rating in a report on Tuesday, January 20th. Finally, Wells Fargo & Company raised their price objective on shares of The PNC Financial Services Group from $252.00 to $264.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 20th. Sixteen equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $235.26.

The PNC Financial Services Group Stock Performance

NYSE PNC opened at $205.34 on Friday. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market cap of $82.83 billion, a P/E ratio of 12.38, a P/E/G ratio of 0.92 and a beta of 0.98. The stock has a 50-day moving average of $219.31 and a two-hundred day moving average of $205.12. The PNC Financial Services Group, Inc has a 1-year low of $145.12 and a 1-year high of $243.94.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Friday, January 16th. The financial services provider reported $4.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.23 by $0.65. The PNC Financial Services Group had a net margin of 20.40% and a return on equity of 11.87%. The business had revenue of $6.07 billion for the quarter, compared to analysts’ expectations of $5.90 billion. During the same quarter in the prior year, the company earned $3.77 earnings per share. The business’s quarterly revenue was up 9.1% on a year-over-year basis. As a group, analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 5th. Shareholders of record on Tuesday, January 20th were issued a dividend of $1.70 per share. The ex-dividend date was Tuesday, January 20th. This represents a $6.80 dividend on an annualized basis and a yield of 3.3%. The PNC Financial Services Group’s dividend payout ratio is 40.99%.

The PNC Financial Services Group Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.